BARYS RESOURCES LIMITED — Investor Presentation 2012

Jul 31, 2012

1 AUGUST 2012

INVESTOR PRESENTATION

ANNOUNCEMENT

Please find attached an updated investor presentation which includes a summary of the Company’s proposed capital raising activities.

For further information please contact:

Zeff Reeves

Managing Director

P: + 61 8 9322 6424

Media

Investors

Donna Cole or Carrie Parsons Ronn Bechler LastSay Communications Market Eye carrie@lastsay.net.au ronn.bechler@marketeye.com.au P: +61-433 472 947 P: +61-400 009 774 P: +61-08 6102 7295

About Mining Group Limited

Mining Group Limited (ASX: MNE) is an ASX listed, Australian based exploration company established to explore, evaluate and acquire commercially significant resource projects in Australia and overseas.

Mining Group seeks to develop the Comval Copper Gold Project in the Philippines along with exploring the prospective Western Australian based Boorara, Teutonic and Lake Christopher Projects.

Mining Group has a strong Board and management team with considerable technical, commercial and corporate experience in the resources sector.

For more information visit the Mining Group website at www.mininggroup.net.au

1

GROUND FLOOR, 3 RICHARDSON STREET, WEST PERTH, WESTERN AUSTRALIA 6005 TELEPHONE 08 9322 6424 FAX 08 9486 1258

www.mininggroup.net.au

An emerging copper opportunity

Disclaimer

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES

This presentation (including information contained in this disclaimer) is not a prospectus nor an offer to subscribe for shares and has not been lodged with the Australian Securities and Investments Commission. Except for any liability which cannot be excluded by law, Mining Group Limited (MNE) and its affiliates expressly disclaim and accept no responsibility or liability (including liability for negligence) for the contents of this presentation.

General

This presentation has been prepared for the consideration of interested parties in the equity funding of Mining Group Limited (MNE) and does not carry any right of publication or disclosure to any other party. This presentation is incomplete without reference to and should be viewed solely in conjunction with the oral briefing provided by Company management or its advisors. Neither this presentation nor its content may be used for any other purpose without prior written consent of MNE.

The information in this presentation is based upon information provided by the management of MNE as well as publicly available information and reflects prevailing conditions and our views as of this date, all of which are accordingly subject to change. In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of any information made available from the management of MNE and public sources.

The information contained in this presentation is of general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

Whilst the information presented and views expressed in this presentation and the oral briefing have been prepared in good faith, MNE accept no responsibility or liability to any party in connection with such information or views.

Competent person’s statement

The information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Zeffron Reeves who is a member of the Australasian Institute of Mining and Metallurgy. Zeffron Reeves has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Zeffron Reeves consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

Exploration Target

It is common practice for a Company to comment on and discuss its exploration in terms of target size and type. The term "Exploration Target" should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2004), and therefore the terms have not been used in this context. Exploration Targets are conceptual in nature, and it is uncertain if further exploration or feasibility study will result in the determination of a Mineral Resource or Mining Reserve.

Forward looking statements

Certain statements contained in this presentation, including information as to the future financial or operating performance of MNE and its projects, are forward‐looking statements. Such forward‐looking statements:

• are necessarily based upon a number of estimates and assumptions that, while considered reasonable by MNE, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies;

• involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements; and

• may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices operating costs production prices, and results, capital expenditures, reserves and resources and anticipated flow rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.

MNE disclaims any intent or obligation to update publicly any forward‐looking statements, whether as a result of new information, future events or results or otherwise.

The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward‐looking statements.

All forward‐looking statements made in this presentation are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.

Mining Group – Investment Highlights

PROJECT

• Historical copper mine which produced a commercial scale in the 1980s

• 3 known deposits of copper and gold bearing ore

• 4[th] deposit recently discovered called “Bayag Bayag”

• Located on the mineral rich Philippines fault which hosts large scale Cu/Au porphyries

• Copper price fundamentals remain strong

COPPER

• Supply shortfall even under conservative demand scenarios

• Average grade of global producing copper mines declining

• Hugely prospective with one of the world’s largest Cu/Au endowments

PHILIPPINES

• Underexplored projects with evidence of historical mining

• Recent track record of successful project development

• Great source of mining skills with a competitive cost structure

Company Overview

Mining Group Limited	As at 6 June 2012
ASX Code	MNE
Date Listed	1 July 2011
Total Shares¹	50,202,344
Listed 20c Options ex 1 July 2014	21,922,230
Unlisted Options²	2,250,000
Top 20 Shareholders	[53%]
Current Share Price (06 June 2012)	$0.25
Market Cap	$12,550,586
Cash on Hand	~$1.5 million

Notes:

1. Appendix 3B, 14 May 2012: Total shares includes 36,536,719 listed ordinary shares and 13,665,625 unlisted ordinary shares as follows: 150,000 Shares escrowed to 22 June 2012; 10,915,625 Shares escrowed to 1 July 2013; 2,600,000 Shares escrowed to 17 January 2014.

2. Listed July 2011

 Acquired Comval from Cadan Resource Corporation in Jan 2012

• Commenced exploration at Comval Jan 2012

• Strong Board and management team with considerable technical, commercial and corporate experience

 Last new issue raised $3 million at 50¢ in April ’12

Volume ('000) Price (cents)

==> picture [357 x 148] intentionally omitted <==

----- Start of picture text -----

800 90
700 80
70
600
60
500
50
400
40
300
30
200
20
100 10
0 0
----- End of picture text -----

1. Total Unlisted options includes, 1,500,000 Options exercisable at $.20 each on or before 1 July 2014 (Escrowed to 1 July 2013); 400,000 Options exercisable at $.55 each on or before 28 February 2014 , 300,000 Options exercisable at $0.60 each on or before 1 April 2015 (Escrowed to 1 April 2013), 50,000 Options exercisable at $0.60 each on or before 14 May 2015

Share price

Volume

Strong Board and Management

BOARD

Winton Willesee (BBus, DipEd, PGDipBus, MCom, FFin, CPA, MAICD)

Non-Executive Chairman

Mr Willesee is a highly experienced Director of ASX listed companies, brings company development, company administration, corporate governance and corporate finance experience to the board. Winton is currently Non-Executive Director of Base Resources Limited, Coretrack Limited, Otis Energy Limited and Newera Resources Limited, and Non-Executive Chairman of Cove Resources Limited.

Zeffron Reeves - B.Sc (Hons) (Applied Geology), MBA, MAIG

Managing Director

Mr Reeves has over 15 years of mining and management experience, from grass roots exploration to underground mining. He also has extensive corporate and commercial experience gained as commercial manager for a WA based electrical engineering contracting business and in his roles with Cleveland Mining Ltd and Ashburton Minerals Ltd, including international experience having operated in Brazil, Chile and South East Asia. Mr. Reeves holds an Honour degree in Geology from Curtin University and an MBA from the Curtin Graduate School of Business.

Colin “Cobb” Johnstone - BE (Mine)

Non Executive Director

Mr Johnstone is a mining engineer with over 30 years' experience in the copper, gold and metalliferous mining industries, including both large open cut and underground operations. Mr Johnstone has extensive industry experience, having served as General Manager at some of Australia's largest mines, including KCGM, Olympic Dam and Northparkes. He has successfully constructed and operated mines in offshore jurisdictions including Zambia, China, Canada, Argentina as well as Australia.

Robert Butchart

Non Executive Director

Mr Butchart is the President and Chief Executive Officer of Cadan Resources Limited, from whom Mining Group recently acquired an 80% interest in the Comval Copper Gold Project in the Philippines. Mr Butchart brings extensive Philippines experience to the board.

5

Experienced in country management

Philippines – Management

Max Tuesley BSc Geol. Exploration Manager

Mr. Tuesley is geologist with 20 years experience including 7 years experience in the Philippines. Mr. Tuesley is highly experienced within copper/gold porphyry geological settings and operating within the Philippines having held senior positions with CGA Mining Ltd’s Masbate gold mine during project start up and with Copper Development Corporations Hinoba-an during feasibility. Mr Tuesley holds a BSc in Geology and an Honours degree in Economic Geology from James Cook University.

Jun Mirador

Philippines Chief Financial and Legal Officer

Mr. Mirador is a Philippine national with over 20 years of corporate and legal experience, primarily operating in the resource sector within the Philippines. Most recently Mr Mirador held the position of Chief Legal and Finance Officer and Corporate adviser for Selenga Mining Corporation, Asian Arc Mining Resources Inc and Resminco Philippines Inc. Mr Mirador holds BSc. Comm and a B.Laws from San Beda College, Manila.

6

Copper Fundamentals Remain Strong

CRU’s global long term Copper balance

Supply Challenges

• Historically < 20% of projected greenfields supply is realised as planned

• Majors deferring projects in current climate

• Energy, power and water constraints

• Significant infrastructure requirements

==> picture [386 x 220] intentionally omitted <==

Production costs rising

• Falling head grades

• Deeper mines leading to higher operating costs

• Rising labour costs

• Rising capital costs

Head grades are in steady decline, and are forecast to continue at this declining rate in the future.

Why the Philippines - Geology

==> picture [358 x 390] intentionally omitted <==

One of the world’s most highly mineralised countries:

• 9m ha of prospective metallic mining land in the “Pacific Ring of Fire” (Mines and Geosciences Bureau)

• Prospective for “Giant” porphyry deposits

Resource potential:

• 3rd largest gold mineral endowment

• 4th largest copper mineral endowment

• Many historically defined deposits remain neglected

Historically very little activity by Majors:

• Juniors active for many years

• Numerous examples of underexplored properties

• Majors now looking for entry points

• Xstrata and Goldfields have undeveloped projects

Why the Philippines?

==> picture [318 x 436] intentionally omitted <==

Recent track record of successful project permitting and development:

• Masbate - CGA

• Co-O - Medusa

• Siana – Red 5

• Runruno – Metals Exploration

Cost/labour structures very competitive:

• Mining skills well developed from senior professional to operator skills

• Strong manufacturing/engineering fabrication base in region

Close to major consumers:

• Reduced logistics – close to China, India and Japan

• Local Smelter in the Philippines

Comval Project is Well Located

==> picture [428 x 371] intentionally omitted <==

Historical mining operation:

.

• Commercial scale mining in the 1980s

• Supportive community who understand the value of mining

• No rural activity in prospective areas

• No small scale mining in the southern lease

• Small scale gold mining in the Northern lease

• Local employment and community projects

Close to infrastructure:

• Sealed road to within 20km of property

• 80kms from Davao – Provincial capital and cargo terminal, international airport

• 70kms from existing port

Situated on the highly prospective Philippines Fault Zone:

• Belt holds numerous Cu, Au and Cu/Au deposits

A Brownfield Project Opportunity

Compostela Valley (Comval) Project

• 80% ownership

• Two granted exploration permits totalling 4,310ha

• Cu-Au-Ag porphyry system

• Four known deposits

Multiple targets

• Two types of mineralisation targeted

• High grade skarns - typically lower tonnage <50 m tonnes at approx 1% Cu Eq

• Tagpura, Mangob, Bayag Bayag

• Porphyry – large tonnage, 0.5%Cu + gold

• Kalimatan, Bayag Bayag

Batoto Project

• Option to gain 80% of the Batoto project

• Potential large tonnage open pit porphyry hosted gold resources

• Due Diligence underway

==> picture [348 x 427] intentionally omitted <==

----- Start of picture text -----

Source: MNE
----- End of picture text -----

Comval Project – Primary Targets

==> picture [499 x 223] intentionally omitted <==

Maangob

• 4,680m of historical RC and diamond drilling

• Sampling and mapping of 484m of 800m underground adits - these results included (ASX announcement, 20 January 2012*):

• W1 Adit - 86.00m @ 1.01% Cu, 0.20g/t Au and 1.56 g/t Ag

• S2 Adit - 40.00m @ 0.78% Cu, 0.12g/t Au and 0.95 g/t Ag

==> picture [310 x 200] intentionally omitted <==

----- Start of picture text -----

Source: MNE
----- End of picture text -----

Tagpura

• Historic Mine

• 16,359m of historical RC and diamond drilling completed to date

• Results (ASX announcement, 9 Feb 2012*) from recent drilling contained the highest grade intercepts encountered to date

  • TAG110D 10.70m @ 2.96% Cu and 0.79 g/t Au from surface

  • TAG112D 26.00m @ 1.95% Cu and 0.74 g/t Au from 39.00m

  • TAG113D 41.00m @ 1.83% Cu and 0.59 g/t Au from 42.00m

• Tagpura Exploration Target 6Mt - 10Mt at grades between 0.5%0.7% Cu & 0.1-0.3g/t Au**

• *Full results in this announcement.

**The term "Exploration Target" should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2004)

Bayag Bayag – Proving the Exploration Model

==> picture [440 x 387] intentionally omitted <==

 Located 800m south from Tagpura Pit within easy trucking distance  First drill hole BCPDH – 00001 – 44.00m @ 0.64% Cu from 39.00m, including 28.00m @ 0.88% Cu (ASX Announcement 16th May 2012)

Located 800m south from Tagpura Pit within easy trucking distance



BCPDH-00002 32.00m @ 0.61% Cu and 0.18 g/t Au from 32.00m including 11.30m @ 1.11% Cu and 0.16 g/t Au from 50.70m**

 Mapping has now indicated a target of at least 800m in strike length



Recent mapping has identified numerous additional skarn targets which could also be local repeats of Tagpura

Comval Project – Still Only Early Stage

==> picture [299 x 353] intentionally omitted <==

==> picture [392 x 335] intentionally omitted <==

----- Start of picture text -----

Tagpura historical Mine –
Targeting 5-10mT skarn
Bayag Bayag Porphyry
Target
----- End of picture text -----

Very early stage with mapping carried out over a very small area of the lease < 20%

New high resolution ground magnetics is also providing better data and delineating possible extensions

New priority is to test new targets and extend mapping and magnetics over larger area

Bayag Bayag – Drilling proves porphyry potential

==> picture [326 x 347] intentionally omitted <==

----- Start of picture text -----

Tagpura Historical mine–
Targeting 5-10mT skarn
Bayag Bayag Skarn Targets
– Untested over entire
length
Bayag Bayag
Porphyry Target
Bayag Drill Results - Untested
28.00m @0.88% Cu
11.30m @ 1.11% Cu
10.40m @ 0.87%Cu
10.00m @1.02% Cu
----- End of picture text -----*

==> picture [348 x 321] intentionally omitted <==

• High temperature feeder zone intercepted in BCPDH-00006.

• Broad zone of low level copper mineralisation

• High grade zones; 5m @ 0.44% Cu, 0.15 g/t Au and 2m @ 1.38% Cu, 0.64 g/t Au*

Comval Project – Porphyry potential

==> picture [276 x 297] intentionally omitted <==

==> picture [381 x 26] intentionally omitted <==

----- Start of picture text -----

Forster et al, 2004 600m
----- End of picture text -----

Oliver, 2012

• Strong indications from Bayag Bayag that the system represented is very large

• Mineralisation and alteration indicate presence of large Cu porphyry mineralising system, similar systems include Cadia (Forster et al, 2004).

Oliver, N.H.S., 2012, Comparative Geochemistry of Tagpura and Bayag Bayag, Compostela valley, Mindanao, Philippines, internal report. Forstrer, D. B., Secombe, P.K., and Phillips, D., 2004, Controls on Skarn Mineralisation and Alteration at the Cadia Deposits, New South Wales, Australia, Economic Geology, Vol. 99, pp 761-788.

Comval Project - Kalamatan

==> picture [461 x 352] intentionally omitted <==

Kalamatan Prospect

• Porphyry style mineralisation with potential for large tonnage Cu/Au deposit

• Mineralised diorite intercept of 55.00m @ 0.51% Cu and 0.33 g/t Au from surface in hole TAG00062

• First pass drill program by Cadan of 14 holes for 1,604m

• Drill site being prepared and access being re-established for step out hole into mineralised diorite

Kalamatan interpreted geology section

Work Completed by Mining Group

Mining Group has completed since 17 January 2012

• 4150m of diamond drilling at Tagpura, Maangob and Bayag Bayag

• Establishment of access tracks to Bayag Bayag and between Tagpura and Kalamatan

• 39,000 line m's of ground magnetic surveying and processing between Tagpura and Bayag Bayag

• Reprocessing of historic aeromagnetics, radiometrics and ground IP

• Relogging and validation sampling of over 16,000m of historic diamond drill core and RC samples

• Database establishment and commencement of geological modelling and resource estimation at Tagpura and Maangob using historical data.

• Detailed mapping, petrography and geochemistry analysis delivering new targets and mineralising system understanding

• Restructuring of the onsite workforce, over 100 employees

• Expansion of environmental and community relations programs at Camalangan barangay.

Comval Project – Value Proposition

• Resource estimation being prepared over historical mine “Tagpura”

• Bayag Bayag discovery provides third zone of mineralisation

• Only a very small area mapped 3 mineralised zones identified on 20% of licence area

• Two new skarn targets already identified and initial drilling planned

• Tagpura East– coincident skarn and copper outcrops

• Bayag Bayag East - coincident skarn and strong magnetic anomaly

• Two Porphyry targets already identified and initial drilling planned

• Kalamatan – Porphyry intercepts

• Bayag Bayag – Initial porphyry intercepts and IP anomaly

• Regional work underway aimed at identifying large porphyries

Batoto Project – Option to Earn 80%

• Porphyry hosted gold mineralisation

• Potential large tonnage open pit

• Widespread small scale mining in sheeted quartz vein complex - high grade up to 30g/t

• Historic drilling intersected numerous zones of intense potassic alteration and coincident low grade gold mineralisation

• BD2 - 17.00m @ 0.94 g/t from 50m

• BD2 - 6.00m @ 1.24 g/t from 72m

• BD2 - 12.00m @ 0.99g/t from 92m

• The drilling to date has been poorly targeted

• Geologic link to the skarns yet to be understood

• Seeking strategic cornerstone investor

Results and Expected News Flow

• Drill results from remaining holes drilled at Bayag Bayag

• Drilling of new Targets - Skarn and porphyry

• New target generation and testing

• Results of resource estimation at Tagpura

• Ongoing discussions with strategic investors

• Due diligence underway on Batoto

==> picture [58 x 6] intentionally omitted <==

----- Start of picture text -----

Source: Cygnet Capital
----- End of picture text -----

New Issue Structure

Rights Issue

• Capital raising to raise up to $5.02m by way of 1 for 1 renounceable rights issue of 50.2m shares .

• Sub-underwriters will be offered one (1) sub-underwriting MNEO option for every two (2) shares underwritten;

• The sub-underwriter options are subject to shareholder approval at a General Meeting to be held in early September 2012;

• The Rights Issue is to be underwritten by Patersons Securities Limited to $2.5m;

• Issue price for the Rights Issue shares is 10¢.

• Shareholders have the opportunity to subscribe for additional securities in excess of their entitlement

Loan

• In order to maintain exploration momentum the Company has secured a short term loan of $500,000.

• Principle terms of the loan are:

• Face value $500,000

• Coupon 6%pa

• Security First ranking charge over Mining Group

• Term Repayable out of the proceeds of the Rights Issue

• – Fee 6,000,000 MNEO options

• The lender is White Swan Nominees Pty Ltd, a nominee of Cygnet Capital.

Capital Structure and Use of Funds

• Assuming the Rights Issue is fully subscribed the proposed capital structure and use of funds are intended to be:

Proposed Capital Structure	Proposed Capital Structure	Proposed Capital Structure	Proposed Capital Structure	Proposed Use of Funds	Proposed Use of Funds
Description	Shares	Listed Options	Amount Raised	Use	Amount
Existing	50,202,344	21,922,230		Loan Repayment	$0.5m
Loan		6,000,000		Expense of the offer	$0.39m
Rights Issue 1:1	50,202,344		$5,020,234	Exploration	$2.63m
Underwriter/ Sub-UnderwriterOpts	-	12,500,000
				Working Capital and Costs	$1.5m
Total	100,404,688	40,422,230	$5,020,234	Total	$5.02m

Proposed Timetable

Event	2012
Trading halt requested	Wed 18 July
Capital Raising Announced to ASX	Tues 31 July
Lodge Prospectus with ASIC and ASX	Wed 1 August
Ex-Date – Rights Trading Commences	Tues 7 August
Record Date	Mon 13 August
Closing Date of Rights issue	Thurs 30 August
Shortfall Notification	Tues 4 September
Shortfall Settled	Thurs 6 September
Allotment of Rights Issue Shares including Shortfall	Fri 7 September
Meeting to Approve Issue of Sub-Underwriter Options on or about	Mon 10 September
Allotment of Sub-Underwriter Options on or about	Tues 11 September

Why Mining Group

PROJECT

• Historical mine with previous production

• Hugely prospective landholding

• Four deposits already confirmed

• Geology better understood and model confirmed

• Large number of targets identified

• Option on adjoining Batoto property

COPPER

• Price fundamentals remain strong

PHILIPPINES

• Right address at the right time

Contact Details

Head Office

3 Richardson Street West Perth, WA 6005 Phone +61-8 9322 6424 Email admin@mininggroup.net.au Web www.mininggroup.net.au

Investor Relations Market Eye Ronn Bechler, MD Market Eye Email: ronn.bechler@marketeye.com.au Mobile: +61-400 009 774 Office: +61-3 9591 8901

Zeffron Reeves, Managing Director Email: zreeves@mininggroup.net.au Phone +61-8 9322 6424

Media Relations LastSay Communications Donna Cole, Director Email: donna@lastsay.net.au Mobile: +61-419 901 229 Office: +61-8 6102 7295